I am working for a Vietnamese outsourcing company based in US, as a onsiter, I travel to where my client located. In average I move every 12 to 15 months depend on where the project goes. Apartment rental is not tax deductible & it goes up at least 5% per year. I made one of the most stubborn decision as most people who know me well said & bold as I think I am, I went ahead to buy my first home in Wilmington DE & offer short term rental for people like me, onsiter. Here is my philosophy: Don't gamble if you can not afford to lose.
If my project does not get extend, if my working visa can't be renew to stay in the country, well give the bank the property which I already have some equity in it (buy it right thanks to my agent who helped me to negotiate it price down) & absolutely I don't die to see the down payment & closing cost down the drain. Building wealth automatically and getting paid to do it. Buy owner-occupied multifamily property or even single family property and getting paid to live for free. How can you do that? Well, no matter if you rent or buy at least 1/3 of you net income will go toward it. What I did was buy a single family home 3B2B in Wilmington DE, it is out of the city but not way too far where all the restaurants, office located. Many people who travel for work like me, we need a place to stay but not in a position to commit to long term commitment. I offer short term rental on Airbnb in 2 other rooms & I keep one for myself.
Living for free with my first property is not too bad.
